A note to the financial statement
adds: "This funding, together with newlyagreed bank facilities, has been incorporated into the directors' cash flow forecast for the group.
The first note to the financial statement
or a separate section preceding the first note provides a summary of the more significant accounting principles and practices reflected in the statements.
The assumption of long-term debt of $100,000 and the issuance of $800,000 in common stock is shown in a supplemental schedule of non-cash investing or financing activities or in a note to the financial statement
Disclose the basis of accounting applied in the preparation of the financial statements in a note to the financial statements
A note to the financial statements
should disclose the new financial information and the financial statement impact, and include a statement that audit procedures applied subsequent to the original audit report date were limited solely to the revised financial information.
If the financial statements contain a material misstatement of misstatements, the disclosure may be made on either the face of the financial statements or in a note to the financial statements
. For statements that omit substantially all the disclosures required by applicable financial reporting framework, the disclosure may be made on the face of the financial statements in a selected note to the financial statements
130 also requires the individual components comprising accumulated other comprehensive income (for example, gains and losses on available-for-sale securities and foreign currency translation adjustments) to be disclosed either on the face of the balance sheet, in the statement of changes in equity, or in a note to the financial statements
The disclosure requirements of this SOP are meant to supplement the existing standards; thus, the new disclosure requirements may be added to existing notes or placed in a separate note to the financial statements
In the former instance, the auditor's responsibility for events occurring subsequent to the original date of the auditor's report is limited to the specific event described in the relevant note to the financial statements
. In the latter instance, the auditor's responsibility for subsequent events extends to the new date of the auditor's report on the revised financial statements.
117 and the new guide (e.g., if the statement of activities does not present revenues, expenses, gains, and losses by net asset class), the nature of the prior year information should be described by use of appropriate titles on the face of the financial statements and in a note to the financial statements
Information about the effects of accounting changes, discontinued operations, and extraordinary items could be disclosed in a note to the financial statements
without following the GAAP presentation requirements in the statement of results of operations, using those terms, or disclosing net-of-tax effects.
* A policy note to the financial statements
should describe the OCBOA.